Residential Finance Survey

Residential Finance Survey: 2001 - United States
Table 5-3a. Mortgage Insurance Status, Rental and Vacant 2- to 4-Housing-Unit Mortgaged Properties
^Number of mortgaged properties in thousands.
For information on confidentiality protection, sampling error, non-sampling error, and definitions, see text.
For minimum base of derived figures (percent, median, etc.) and meaning of symbols, see text.
@4Includes first mortgages that are insured by state and local governments with or without FHA insurance, VA, or Rural Housing Service/Rural Development guarantees.
Monthly Rental Receipts Per Housing Unit, Rental Receipts as Percent of Value, Rental Vacancy Losses as Percent of Potential Receipts, Interest and Principal Payments on First Mortgage as Percent of Rental Receipts and Real Estate Tax as Percent of Rental Receipts acquired before 2000 exclude properties with less than half of units in rental market during all of year preceding survey and cooperatively owned apartments^^

Properties with government-insured
or guaranteed first mortgage

Total
mortgaged
properties

FHA
first mortgage

VA
first mortgage

Rural Housing Service-
Rural Development
first mortgage

Other
insured or guaranteed
properties@4

Properties with
privately-insured
first mortgage

Not insured

2- to 4-housing-unit properties with traditional first mortgage

1118

84

22

21

27

91

873

PROPERTY CHARACTERISTICS

Property Location by Geographic Area

Inside MAs

933

70

20

21

19

74

729

In central cities

506

43

12

19

7

33

391

Not in central cities

427

27

8

3

12

41

338

Outside MAs

185

14

2

0

8

17

144

Number of Housing Units

2 housing units

779

55

18

19

17

63

607

3 housing units

152

16

2

0

7

14

113

4 housing units

187

13

3

2

3

14

152

Manner of Acquisition

By purchase

1065

81

22

21

27

79

834

Placed one new mortgage

927

61

19

8

25

74

741

Placed two or more new mortgages

58

9

0

7

0

2

40

Assumed mortgage(s) already on property

53

8

1

3

2

0

39

Assumed mortgage(s) already on property and placed new mortgage

14

3

2

0

0

0

9

Borrowed using assets other than this property as collateral

4

0

0

0

0

3

1

Paid all cash-no borrowing

5

0

0

1

0

0

5

Other manner

3

0

0

3

0

0

0

By inheritance or gift

19

0

0

0

0

7

12

By divorce

0

0

0

0

0

0

0

By tax free exchange of other property

10

0

0

0

0

3

7

By foreclosure or assignment

3

3

0

0

0

0

0

By some other manner

3

0

0

0

0

0

3

Not reported

19

0

0

0

0

2

17

Source of Downpayment@1

Properties purchased 1995 to 2001 (part)

538

41

12

9

9

45

423

Sale of stock or other partnership shares for this project

23

0

0

0

0

3

21

Sale of previously owned stocks, shares, or other securities

37

0

2

0

0

1

33

Sale of land or other real estate

48

3

0

0

0

4

42

Owner's cash, bank deposits, share accounts, or bonds

303

20

12

3

6

37

226

Borrowing from a retirement plan

8

0

0

0

0

3

5

Borrowing using assets other than this property as collateral

56

0

2

0

0

2

51

Proceeds from an insurance policy

0

0

0

0

0

0

0

From a state or local government source

7

4

3

0

0

0

0

From a non-profit organization

4

0

0

0

0

0

4

Proceeds from sale of tax credits

0

0

0

0

0

0

0

From parents or relatives

16

0

3

0

3

0

9

Other cash source

20

0

2

0

0

0

18

Non-cash source

4

0

0

0

0

0

4

No downpayment required

52

12

0

0

0

2

37

Not reported

25

5

0

5

0

1

14

Other properties

571

44

11

13

18

44

442

Not reported

9

0

0

0

0

2

7

Year Property Acquired

1999 to 2001 (part)

287

25

6

5

0

28

224

1997 and 1998

150

15

3

0

0

18

115

1995 and 1996

130

4

3

3

9

9

101

1990 to 1994

198

14

1

4

0

16

163

1985 to 1989

166

17

3

0

2

7

137

1980 to 1984

83

4

2

3

5

7

62

1975 to 1979

57

4

0

5

8

6

34

1970 to 1974

32

2

4

0

3

0

23

1969 or earlier

15

0

0

1

0

0

14

Building and Land Acquisition

Acquired at same time

1011

83

22

19

16

89

783

Not acquired at same time

70

1

0

3

8

2

57

Land not owned by building owner

3

0

0

0

0

0

3

Not reported

34

0

0

0

4

0

30

Property New or Previously Owned When Acquired

Acquired by purchase

1065

81

22

21

27

79

834

New

129

12

2

3

11

3

98

Previously owned

907

68

17

19

16

76

713

As residential property

861

64

17

19

16

72

674

Converted from nonresidential use

46

4

0

0

0

4

38

Other

9

0

0

0

0

0

9

Not reported

20

2

3

0

0

0

15

Other properties

35

3

0

0

0

10

22

Not reported

19

0

0

0

0

2

17

Year Structure Built

1999 to March 2000

19

5

0

0

0

2

12

1997 and 1998

17

0

0

0

0

3

14

1995 and 1996

22

0

0

0

4

0

18

1990 to 1994

49

0

0

3

2

5

39

1980 to 1989

134

12

4

5

3

16

94

1970 to 1979

136

11

4

0

7

8

106

1960 to 1969

119

13

5

0

1

12

89

1950 to 1959

136

11

3

0

6

10

106

1940 to 1949

94

2

3

0

0

1

87

1939 or earlier

393

30

3

13

4

34

307

Purchase Price Per Housing Unit@8

Properties acquired by purchase 1997 to 2001 (part)

410

36

8

5

0

36

324

Less than $20,000

51

5

0

0

0

5

40

$20,000 to $39,999

141

12

3

0

0

22

104

$40,000 to $59,999

80

11

2

5

0

1

60

$60,000 to $79,999

66

0

3

0

0

2

61

$80,000 to $99,999

28

4

0

0

0

5

18

$100,000 to $124,999

18

0

0

0

0

1

17

$125,000 to $149,999

5

0

0

0

0

0

5

$150,000 to $174,999

6

1

0

0

0

0

4

$175,000 to $199,999

0

0

0

0

0

0

0

$200,000 to $249,999

4

0

0

0

0

0

4

$250,000 to $299,999

0

0

0

0

0

0

0

$300,000 to $499,999

6

0

0

0

0

0

6

$500,000 or more

7

1

0

0

0

0

5

Median

43423

40316

53739

50000

0

31638

46095

Mean

64889

64955

49527

59000

0

41744

67932

Other properties

708

48

14

16

27

55

548

Value

Less than $20,000

3

0

0

0

0

0

3

$20,000 to $39,999

52

0

2

3

3

2

43

$40,000 to $59,999

87

7

6

3

3

3

65

$60,000 to $79,999

111

6

3

0

0

4

99

$80,000 to $99,999

106

13

1

0

0

12

79

$100,000 to $124,999

164

13

4

5

3

14

123

$125,000 to $149,999

109

10

3

3

4

15

73

$150,000 to $174,999

68

3

0

0

7

14

44

$175,000 to $199,999

77

7

2

0

0

7

61

$200,000 to $249,999

112

13

0

0

3

7

89

$250,000 to $299,999

55

2

0

0

2

0

51

$300,000 to $499,999

86

8

0

4

2

4

69

$500,000 or more

88

3

1

3

0

7

75

Median

133434

131983

101390

120675

151813

139625

133641

Mean

194042

192190

113693

293508

150538

191109

195498

Value Per Housing Unit@8

Less than $20,000

87

4

4

3

6

7

63

$20,000 to $39,999

249

15

7

3

0

14

210

$40,000 to $59,999

224

24

4

5

1

24

165

$60,000 to $79,999

189

14

3

3

16

21

131

$80,000 to $99,999

101

3

2

1

4

11

79

$100,000 to $124,999

91

14

0

1

0

3

73

$125,000 to $149,999

60

2

0

0

0

3

55

$150,000 to $174,999

34

5

0

0

0

1

28

$175,000 to $199,999

14

0

0

0

0

0

14

$200,000 to $249,999

15

2

0

2

0

0

12

$250,000 to $299,999

14

0

1

0

0

3

10

$300,000 to $499,999

23

0

0

0

0

0

23

$500,000 or more

17

1

0

3

0

2

10

Median

59875

59106

41112

56540

68121

60093

59767

Mean

81516

77281

54228

137486

59744

84110

81661

Purchase Price as Percent of Value@8

Acquired by purchase

1065

81

22

21

27

79

834

Purchased 1997 to 2001 (part)

410

36

8

5

0

36

324

Less than 60 percent

68

10

0

0

0

10

48

60 to 69 percent

14

0

0

0

0

5

10

70 to 79 percent

77

4

0

0

0

3

70

80 to 99 percent

153

16

8

0

0

16

113

100 percent or more

97

6

0

5

0

2

83

Median

86

85

90

4651

0

79

86

Purchased 1990 to 1996 (part)

319

18

4

8

9

25

255

Less than 40 percent

46

5

0

0

0

4

37

40 to 59 percent

59

4

0

1

0

3

51

60 to 79 percent

115

4

1

6

7

11

85

80 to 99 percent

34

3

3

0

0

3

25

100 percent or more

65

2

0

0

2

4

57

Median

69

60

87

68

73

70

69

Purchased 1989 or earlier

335

27

10

8

18

18

255

Less than 20 percent

40

2

0

2

2

5

29

20 to 39 percent

83

5

2

1

3

0

72

40 to 59 percent

80

3

0

0

11

3

62

60 to 79 percent

48

2

0

0

2

0

45

80 to 99 percent

22

7

2

0

0

1

11

100 percent or more

63

8

5

6

0

8

35

Median

51

85

497

1697

48

89

48

Not acquired by purchase

53

3

0

0

0

12

38

Value of Capital Improvements

Properties with capital improvements between 1998 and 2000

603

43

9

3

16

45

487

Less than $500

13

3

0

0

0

0

11

$500 to $999

29

0

0

0

0

0

29

$1,000 to $2,499

126

6

6

0

0

7

107

$2,500 to $4,999

95

8

0

3

7

6

71

$5,000 to $7,499

131

13

0

0

6

12

99

$7,500 to $9,999

25

0

3

0

0

0

22

$10,000 to $14,999

73

6

0

0

3

0

64

$15,000 to $19,999

52

0

0

0

0

16

36

$20,000 to $29,999

39

5

0

0

0

3

31

$30,000 or more

19

2

0

0

0

1

16

Median

5721

5823

2213

3750

5409

6980

5645

Mean

7810

8374

3721

2500

5489

10809

7673

Properties with no capital improvements between 1998 and 2000

346

24

3

10

9

45

254

Capital improvements not reported

170

18

10

8

2

0

132

Value of Capital Improvements Per Unit

Properties with capital improvements between 1998 and 2000

603

43

9

3

16

45

487

Less than $500

56

3

0

0

0

2

52

$500 to $999

66

6

6

0

0

5

49

$1,000 to $2,499

183

9

0

3

10

12

147

$2,500 to $4,999

148

13

3

0

3

8

120

$5,000 to $7,499

68

7

0

0

3

2

56

$7,500 to $9,999

40

0

0

0

0

13

27

$10,000 to $14,999

32

3

0

0

0

1

28

$15,000 to $19,999

3

0

0

0

0

0

3

$20,000 to $29,999

7

2

0

0

0

0

5

$30,000 or more

0

0

0

0

0

0

0

Median

2472

3055

904

1750

2194

3349

2455

Mean

3336

3796

1861

1250

2388

4387

3272

Properties with no capital improvements between 1998 and 2000

346

24

3

10

9

45

254

Capital improvements not reported

170

18

10

8

2

0

132

Monthly Rental Receipts Per Housing Unit

Acquired before 2000

944

63

19

16

27

73

745

Less than $100

25

1

0

0

3

0

21

$100 to $199

72

5

6

3

4

7

47

$200 to $299

121

3

6

3

4

6

98

$300 to $399

161

10

1

3

8

19

121

$400 to $499

133

15

0

0

3

15

100

$500 to $599

124

7

0

1

0

13

102

$600 to $799

74

6

2

0

2

5

58

$800 to $999

125

7

2

3

3

4

105

$1000 or more

76

9

1

3

0

3

60

No rental receipts

33

0

0

0

0

0

33

Median

458

488

256

365

331

428

469

Mean

528

637

460

1296

343

476

516

Acquired 2000 and 2001 (part)

175

21

3

5

0

17

128

Rental Receipts as Percent of Value@8

Acquired before 2000

944

63

19

16

27

73

745

Less than 5 percent

118

9

2

0

8

11

87

5 to 9 percent

243

8

0

6

6

25

198

10 to 14 percent

401

33

13

10

4

28

312

15 to 19 percent

88

11

3

0

0

3

71

20 to 24 percent

37

2

0

0

6

0

29

25 to 29 percent

8

0

0

0

0

1

7

30 to 39 percent

3

0

0

0

0

0

3

40 percent or more

7

0

0

0

0

4

3

Median

11

12

13

11

8

10

11

Acquired 2000 and 2001 (part)

175

21

3

5

0

17

128

Rental Vacancy Losses as Percent of Potential Receipts

Acquired before 2000

944

63

19

16

27

73

745

Less than 1.0 percent

331

16

7

3

6

31

268

1.0 to 2.9 percent

22

0

1

0

0

2

19

3.0 to 4.9 percent

38

4

0

0

0

7

26

5.0 to 6.9 percent

24

1

0

0

3

1

18

7.0 to 8.9 percent

56

0

0

2

0

9

45

9.0 to 10.9 percent

34

0

0

0

0

3

31

11.0 to 12.9 percent

21

1

1

0

2

0

18

13.0 to 14.9 percent

5

4

0

0

0

0

1

15.0 percent or more

133

11

2

6

6

13

95

Not reported or not computed

279

25

8

5

10

6

224

Median

1.1

4.2

0.8

23.4

6.6

3.0

1.0

Acquired 2000 and 2001 (part)

175

21

3

5

0

17

128

Age Restrictions

Property restricted to people age 55 or older

240

12

11

6

1

22

189

Property not restricted to people age 55 or older

854

69

9

15

26

69

666

Not reported

24

3

3

0

0

0

18

Type of Property Benefits@1

Government-sponsored below-market interest rate mortgage loan

16

1

0

0

0

4

11

Government rental subsidy

59

6

0

0

0

4

49

Government grant

6

0

3

0

0

2

1

Property tax relief

13

4

0

0

0

0

9

Federal income tax credit for low-income, old or historic properties

0

0

0

0

0

0

0

Accelerated federal income tax depreciation for low- and moderate-income properties

0

0

0

0

0

0

0

Subsidy from a non-profit corporation

0

0

0

0

0

0

0

None of the above benefits

946

69

16

21

23

86

730

Not reported

89

4

4

0

4

0

78

Source of Property Benefits@1

With property benefits

84

12

3

0

0

4

65

Federal government

37

0

0

0

0

4

33

State government

26

4

0

0

0

0

22

Local government

25

8

3

0

0

2

13

Non-profit corporation

0

0

0

0

0

0

0

Not reported

0

0

0

0

0

0

0

With no property benefits

946

69

16

21

23

86

730

Not reported

89

4

4

0

4

0

78

Reason for Benefits@1

With property benefits

84

12

3

0

0

4

65

Occupied by low- or moderate-income individuals

68

10

0

0

0

4

54

Occupied by elderly or disabled individuals

11

5

0

0

0

0

6

A historic structure

0

0

0

0

0

0

0

Located in a community development or economic development area

4

0

3

0

0

0

2

Covered by a Homestead Exemption

9

2

0

0

0

0

7

Covered by a Community Land Trust

0

0

0

0

0

0

0

Covered by disaster relief

0

0

0

0

0

0

0

Other reason

2

0

0

0

0

0

2

Not reported

0

0

0

0

0

0

0

With no property benefits

946

69

16

21

23

86

730

Not reported

89

4

4

0

4

0

78

OWNER CHARACTERISTICS

Type of Owner

Individual investor(s)

957

70

17

16

24

80

750

Limited partnership

64

3

3

3

3

0

51

Joint venture

8

3

0

0

0

2

4

General partnership

11

3

2

0

0

4

1

Life insurance company

5

0

0

0

0

0

5

Depository institution

2

0

0

0

0

2

0

Public real estate investment trust

1

0

0

0

0

0

1

Private real estate investment trust

0

0

0

0

0

0

0

Corporation - other than real estate investment trust

52

3

0

3

0

2

44

Housing cooperative organization

4

0

0

0

0

0

4

Non-profit or church-related institution

12

2

0

0

0

0

10

Pension fund

0

0

0

0

0

0

0

Fraternal organization

0

0

0

0

0

0

0

Other

3

0

0

0

0

0

3

MORTGAGE CHARACTERISTICS

Number of Mortgages

1 mortgage

961

78

20

16

24

76

748

2 mortgages

148

7

3

5

3

13

117

3 or more mortgages

9

0

0

0

0

2

7

Form of Debt of First Mortgage

Mortgage or deed of trust

1118

84

22

21

27

91

873

Contract to purchase

0

0

0

0

0

0

0

Some other loan secured by this property

0

0

0

0

0

0

0

Method of Loan Application

By computer over the Internet or by e-mail

4

0

0

0

0

2

3

By telephone or FAX

79

4

0

2

3

9

61

By regular mail

17

3

0

0

1

3

9

By personal visit

754

51

11

8

20

67

598

Through third party (such as real estate agent or builder)

144

21

10

3

3

8

99

Some other way

16

0

0

3

0

0

13

Not reported

73

5

0

5

0

2

61

Not available

30

1

1

0

0

0

28

Origin of First Mortgage

Mortgage made at time property acquired

854

61

19

15

22

71

665

Mortgage assumed at the time property acquired

53

6

3

3

0

0

40

Mortgage placed later than acquisition of property

211

17

0

3

5

20

167

Refinanced mortgage

185

17

0

3

2

20

144

Same lender

62

9

0

0

0

5

48

Different lender

123

8

0

3

2

15

96

Mortgage placed on property owned free and clear of debt

26

0

0

0

3

0

24

Not available

0

0

0

0

0

0

0

Purpose of First Mortgage Placed Later Than Acquisition of Property

Properties on which mortgages placed later than acquisition of property

211

17

0

3

5

20

167

Obtain lower interest rate

107

15

0

3

0

5

84

Increase payment period for mortgage

0

0

0

0

0

0

0

Reduce payment period for mortgage

5

0

0

0

0

1

4

Renew or extend loan that had fallen due, without increasing outstanding balance

6

0

0

0

0

0

6

Receive cash or increase outstanding balance of loan

61

2

0

0

5

8

47

Other reason

23

0

0

0

0

2

21

Not reported

8

0

0

0

0

3

5

Other properties

907

67

22

19

22

71

705

Not available

0

0

0

0

0

0

0

Cash Received From Refinancing or Placing Mortgage on Property Owned Free and Clear

Properties on which cash received

97

0

0

0

5

12

80

Less than $20,000

32

0

0

0

3

6

24

$20,000 to $39,999

17

0

0

0

2

4

10

$40,000 to $59,999

22

0

0

0

0

2

20

$60,000 to $79,999

7

0

0

0

0

0

7

$80,000 to $99,999

2

0

0

0

0

0

2

$100,000 to $124,999

6

0

0

0

0

0

6

$125,000 to $149,999

0

0

0

0

0

0

0

$150,000 to $174,999

10

0

0

0

0

0

10

$175,000 to $199,999

0

0

0

0

0

0

0

$200,000 to $249,999

0

0

0

0

0

0

0

$250,000 to $299,999

1

0

0

0

0

0

1

$300,000 or more

0

0

0

0

0

0

0

Median

39156

30000

0

0

18232

22566

45611

Mean

51205

31745

0

0

18202

29280

56554

Properties that refinanced and did not receive cash back

97

15

0

3

0

7

72

Properties that refinanced and did not report if received cash back

17

1

0

0

0

0

15

Properties that did not refinance

907

67

22

19

22

71

705

Not available

0

0

0

0

0

0

0

Use of Cash From Refinancing or Placing Mortgage on Property Owned Free and Clear

Properties on which cash received@1

97

0

0

0

5

12

80

For additions, improvements or repairs to this property

27

0

0

0

2

0

25

To consolidate debts

33

0

0

0

3

2

29

For investment in other real estate

30

0

0

0

0

8

22

For other types of investments

5

0

0

0

0

2

3

For educational or medical expenses

8

0

0

0

0

0

8

To start a business

6

0

0

0

0

0

6

To settle a divorce

0

0

0

0

0

0

0

To pay taxes

0

0

0

0

0

0

0

To purchase an automobile, truck, or other vehicle

6

0

0

0

3

0

3

To purchase consumer product other than automobile, truck, or other vehicle

0

0

0

0

0

0

0

Other

7

0

0

0

0

0

7

Not reported

0

0

0

0

0

0

0

Properties that refinanced and did not receive cash back

97

15

0

3

0

7

72

Properties that refinanced and did not report if received cash back

17

1

0

0

0

0

15

Properties that did not refinance

907

67

22

19

22

71

705

Not available

0

0

0

0

0

0

0

Purpose of Second Mortgage

Properties with second mortgage

82

2

3

0

3

3

70

Provide funds for the purchase of this property

41

1

3

0

0

2

36

Provide funds for additions, improvements or repairs to this property

23

0

0

0

3

1

18

Provide funds for consolidation of debts

3

2

0

0

0

0

2

Provide funds for investment in other real estate

0

0

0

0

0

0

0

Provide funds for other types of investments

0

0

0

0

0

0

0

Provide funds for educational or medical expenses

0

0

0

0

0

0

0

Provide funds for starting a business

0

0

0

0

0

0

0

Provide funds to settle a divorce

0

0

0

0

0

0

0

Provide funds to pay taxes

0

0

0

0

0

0

0

Provide funds to purchase automobile, truck, or vehicle

0

0

0

0

0

0

0

Provide funds to purchase another type of consumer product

0

0

0

0

0

0

0

Other reasons

5

0

0

0

0

0

5

Not reported

9

0

0

0

0

0

9

Other properties

1036

82

20

21

24

87

802

Purpose of Home Equity Line of Credit

Properties with home equity line of credit

78

4

0

5

0

12

57

Provide funds for additions, improvements or repairs to this property

27

3

0

0

0

7

18

Provide funds for consolidation of debts

7

0

0

0

0

0

7

Provide funds for investment in other real estate

6

0

0

0

0

0

6

Provide funds for other types of investments

0

0

0

0

0

0

0

Provide funds for educational or medical expenses

0

0

0

0

0

0

0

Provide funds for starting a business

0

0

0

0

0

0

0

Provide funds to settle a divorce

0

0

0

0

0

0

0

Provide funds to pay taxes

0

0

0

0

0

0

0

Provide funds to purchase automobile, truck, or vehicle

8

0

0

0

0

0

8

Provide funds to purchase another type of consumer product

0

0

0

0

0

0

0

Other reasons

6

0

0

0

0

0

6

Not reported

24

1

0

5

0

5

13

Other properties

1040

80

22

16

27

79

816

Year First Mortgage Made or Assumed

1999 to 2001 (part)

399

36

6

5

3

45

305

1997 and 1998

208

17

3

3

0

13

172

1995 and 1996

135

3

3

3

9

12

105

1990 to 1994

193

20

5

1

2

12

153

1985 to 1989

102

6

0

0

2

0

93

1980 to 1984

39

0

2

3

3

7

25

1979 or earlier

42

2

4

6

8

1

20

Traditional First Mortgage Loan

Less than $20,000

39

0

0

0

3

2

34

$20,000 to $29,999

63

8

0

6

3

0

46

$30,000 to $39,999

75

1

4

0

0

3

66

$40,000 to $49,999

106

0

5

0

3

17

82

$50,000 to $59,999

73

4

3

1

4

2

59

$60,000 to $79,999

167

15

0

5

7

22

118

$80,000 to $99,999

153

18

2

3

2

12

116

$100,000 to $149,999

231

19

3

0

3

21

184

$150,000 to $199,999

96

11

0

1

2

9

73

$200,000 to $249,999

38

2

0

2

0

1

33

$250,000 to $299,999

19

0

0

0

0

0

19

$300,000 or more

49

5

1

3

0

2

37

Not reported

9

0

4

0

0

0

6

Median

84016

94983

50688

74427

61450

79854

84831

Mean

105534

123110

83365

182034

65705

108573

103343

Total Mortgage Loan

Less than $20,000

36

0

0

0

3

2

32

$20,000 to $29,999

60

8

0

6

0

0

46

$30,000 to $39,999

78

1

4

0

3

3

66

$40,000 to $49,999

93

0

5

0

3

17

69

$50,000 to $59,999

79

4

3

1

4

2

66

$60,000 to $79,999

163

15

0

5

7

20

115

$80,000 to $99,999

148

18

2

3

2

12

112

$100,000 to $149,999

230

19

3

0

3

21

184

$150,000 to $199,999

109

12

0

1

2

9

85

$200,000 to $249,999

40

0

0

2

0

3

35

$250,000 to $299,999

24

2

0

0

0

0

22

$300,000 or more

49

5

1

3

0

2

37

Not reported

9

0

4

0

0

0

6

Median

86078

94983

50688

74427

61450

81928

87338

Mean

109353

124572

83619

182034

66549

111743

107722

Traditional First Mortgage Outstanding Debt

Less than $10,000

59

3

4

1

0

3

49

$10,000 to $19,999

60

3

3

3

5

4

42

$20,000 to $29,999

73

5

1

3

3

2

58

$30,000 to $39,999

81

6

0

0

4

6

66

$40,000 to $49,999

96

5

5

0

1

12

73

$50,000 to $59,999

104

3

0

0

7

6

89

$60,000 to $79,999

168

19

0

5

2

24

118

$80,000 to $99,999

129

16

2

3

2

6

100

$100,000 to $149,999

176

8

3

4

2

16

143

$150,000 to $199,999

85

11

0

0

0

8

66

$200,000 to $249,999

23

2

0

0

0

1

20

$250,000 to $299,999

20

0

0

0

0

0

20

$300,000 or more

36

5

1

3

0

2

25

Not reported

8

0

2

0

0

0

6

Median

69708

79421

43324

74427

44545

70623

69779

Mean

91219

111307

64375

97497

50097

99261

90180

Total Mortgage Outstanding Debt

Less than $10,000

54

3

4

1

0

3

44

$10,000 to $19,999

60

3

3

3

5

4

42

$20,000 to $29,999

73

5

1

3

3

2

58

$30,000 to $39,999

76

6

0

0

4

6

60

$40,000 to $49,999

90

5

5

0

1

12

66

$50,000 to $59,999

112

3

0

0

7

6

96

$60,000 to $79,999

163

19

0

5

2

22

115

$80,000 to $99,999

124

16

2

3

2

6

95

$100,000 to $149,999

182

7

3

4

2

16

149

$150,000 to $199,999

94

12

0

0

0

8

74

$200,000 to $249,999

25

0

0

0

0

3

22

$250,000 to $299,999

19

2

0

0

0

0

18

$300,000 or more

39

5

1

3

0

2

28

Not reported

8

0

2

0

0

0

6

Median

71164

79421

43324

74427

44545

71552

71682

Mean

94000

112672

58262

97497

50216

102315

93521

Current Interest Rate on First Mortgage

Less than 6.0 percent

376

8

3

18

21

31

295

6.0 percent

12

0

0

0

0

0

12

6.1 to 6.4 percent

6

0

2

0

0

0

3

6.5 to 6.9 percent

78

6

0

0

0

8

64

7.0 percent

84

4

3

0

0

10

66

7.1 to 7.4 percent

42

2

0

0

0

6

34

7.5 to 7.9 percent

99

12

0

0

0

11

76

8.0 percent

35

3

0

0

0

0

32

8.1 to 8.4 percent

55

1

0

0

0

5

49

8.5 to 8.9 percent

50

0

0

0

0

6

44

9.0 percent

17

4

2

0

0

0

11

9.1 to 9.4 percent

16

4

2

0

0

1

9

9.5 to 9.9 percent

12

3

0

0

0

0

9

10.0 percent

29

4

2

0

0

4

19

10.1 to 10.4 percent

7

5

0

0

0

0

2

10.5 to 10.9 percent

13

3

0

0

0

0

10

11.0 percent

18

2

0

0

0

0

16

11.1 to 12.9 percent

28

14

6

0

0

0

7

13.0 percent

0

0

0

0

0

0

0

13.1 percent or more

142

10

1

3

6

9

113

Not reported

0

0

0

0

0

0

0

Median

7.1

9.4

9.2

3.6

3.8

7.1

7.1

Type of Interest Rate Buydown

Properties with interest rate buydown

18

0

2

0

0

0

16

Constant payment

3

0

0

0

0

0

3

3-2-1 buydown

0

0

0

0

0

0

0

Other

0

0

0

0

0

0

0

Not reported

15

0

2

0

0

0

13

Properties without interest rate buydown

428

26

3

0

0

43

355

Not reported

673

58

17

21

27

47

502

Term of First Mortgage

Less than 5 years

20

0

0

0

0

3

17

5 years

17

0

0

0

0

0

17

6 to 9 years

2

0

0

0

0

0

2

10 years

11

1

0

0

0

3

7

11 to 14 years

9

0

0

0

0

0

9

15 years

87

7

0

0

0

1

78

16 to 19 years

1

0

0

0

0

0

1

20 years

43

0

0

0

0

1

42

21 to 24 years

2

0

2

0

0

0

0

25 years

22

0

0

0

0

4

18

26 to 29 years

0

0

0

0

0

0

0

30 years

362

75

19

0

0

36

232

More than 30 years

6

0

2

0

0

0

3

No stated term

536

0

0

21

27

43

445

Median

30

30

31

0

0

30

30

Unexpired Term of First Mortgage

Less than 5 years

61

0

4

0

0

6

51

5 to 9 years

69

11

2

0

0

0

56

10 to 14 years

55

0

0

0

0

1

54

15 to 19 years

62

12

0

0

0

1

49

20 to 24 years

100

10

6

0

0

4

80

25 to 29 years

184

44

7

0

0

27

105

30 or more years

51

7

3

0

0

8

33

No stated term or not computed

536

0

0

21

27

43

445

Median

22

26

25

0

0

27

20

Holder of First Mortgage

Commercial bank or trust company

179

4

0

3

6

13

153

Savings and loan association, federal savings bank

166

10

0

1

2

4

150

Mutual savings bank

45

0

0

0

0

7

37

Life insurance company

21

0

0

0

0

0

21

Mortgage banker or mortgage company

65

11

0

0

0

17

37

Federally-sponsored secondary market agency or pool

424

37

20

13

6

30

317

Conventional mortgage pool

9

0

0

0

0

2

7

Other federal agency

27

1

2

0

6

0

18

Real estate investment trust

4

1

0

0

0

0

3

Pension or retirement fund

0

0

0

0

0

0

0

Credit union

36

7

0

2

0

3

24

Finance company

13

4

0

0

0

2

7

State or municipal government or housing finance agency

68

5

0

3

3

11

47

Individual or individual's estate

35

0

0

0

0

1

33

Other

25

4

0

0

4

0

17

Servicer of First Mortgage

Commercial bank or trust company

214

4

2

3

6

19

180

Savings and loan association, federal savings bank

177

13

0

1

2

4

158

Mutual savings bank

50

0

0

0

0

7

43

Life insurance company

20

0

0

0

0

0

20

Mortgage banker or mortgage company

463

48

18

13

6

45

333

Federally-sponsored secondary market agency or pool

0

0

0

0

0

0

0

Conventional mortgage pool

0

0

0

0

0

0

0

Other federal agency

26

0

2

0

6

0

18

Real estate investment trust

0

0

0

0

0

0

0

Pension or retirement fund

0

0

0

0

0

0

0

Credit union

41

7

0

2

0

3

29

Finance company

11

4

0

0

0

0

7

State or municipal government or housing finance agency

62

5

0

3

3

11

41

Individual or individual's estate

30

0

0

0

0

1

29

Other

23

4

0

0

4

0

16

Holder's Acquisition of First Mortgage

Originated directly from borrower

597

30

14

14

4

50

485

Purchased from present servicer

275

28

3

1

14

26

203

Purchased from someone else

246

26

5

6

10

15

184

Not reported

0

0

0

0

0

0

0

First Mortgage Loan as a Percent of Purchase Price

Properties acquired by purchase with first mortgage made or assumed at time of purchase

859

64

22

19

22

59

672

Less than 40 percent

28

0

0

0

2

0

26

40 to 49 percent

15

0

3

0

0

0

11

50 to 59 percent

38

0

0

1

0

6

31

60 to 69 percent

98

6

0

11

4

17

60

70 to 79 percent

126

5

3

0

3

3

112

80 to 89 percent

138

11

3

0

8

3

113

90 to 94 percent

80

2

2

0

0

15

61

95 to 99 percent

35

4

0

0

1

0

30

100 percent or more

294

36

6

7

5

16

224

Not reported

7

0

4

0

0

0

3

Median

89

11032

87

68

83

90

88

Other properties

260

20

0

3

5

31

201

Not available

0

0

0

0

0

0

0

First Mortgage Loan as a Percent of Value

Properties acquired by purchase with first mortgage made or assumed at time of purchase

859

64

22

19

22

59

672

Less than 40 percent

31

0

0

0

2

0

29

40 to 49 percent

9

0

3

0

0

2

4

50 to 59 percent

29

0

0

1

0

0

28

60 to 69 percent

197

6

0

11

4

20

155

70 to 79 percent

153

5

0

0

3

1

144

80 to 89 percent

138

9

3

0

8

16

102

90 to 94 percent

46

2

2

0

0

9

33

95 to 99 percent

28

9

0

0

1

0

18

100 percent or more

221

34

10

7

5

11

155

Not reported

7

0

4

0

0

0

3

Median

81

535

437

68

83

84

78

Other properties

260

20

0

3

5

31

201

Not available

0

0

0

0

0

0

0

First Mortgage Risk

Subprime loan

52

3

1

0

2

3

43

Not subprime loan

1066

81

21

21

25

88

830

Not reported

0

0

0

0

0

0

0

Total Mortgage Loan as a Percent of Purchase Price

Properties acquired by purchase with first mortgage made or assumed at time of purchase

859

64

22

19

22

59

672

Less than 40 percent

30

0

0

0

2

0

28

40 to 49 percent

11

0

3

0

0

0

8

50 to 59 percent

30

0

0

1

0

6

24

60 to 69 percent

86

6

0

11

4

16

49

70 to 79 percent

108

5

3

0

0

4

96

80 to 89 percent

119

11

3

0

8

3

94

90 to 94 percent

89

2

2

0

0

15

70

95 to 99 percent

53

4

0

0

4

0

45

100 percent or more

327

37

6

7

5

16

256

Not reported

7

0

4

0

0

0

3

Median

92

12637

87

68

87

90

93

Other properties

260

20

0

3

5

31

201

Not available

0

0

0

0

0

0

0

Total Mortgage Loan as Percent of Value

Properties acquired by purchase with first mortgage made or assumed at time of purchase

859

64

22

19

22

59

672

Less than 40 percent

122

10

3

1

5

7

97

40 to 49 percent

106

0

2

1

15

18

70

50 to 59 percent

123

13

0

0

0

6

104

60 to 69 percent

149

12

0

17

3

9

108

70 to 79 percent

112

7

6

0

0

3

96

80 to 89 percent

99

11

7

0

0

11

69

90 to 94 percent

33

0

0

0

0

1

32

95 to 99 percent

29

4

0

0

0

0

25

100 percent or more

77

6

0

0

0

4

67

Not reported

7

0

4

0

0

0

3

Median

65

67

76

64

45

58

66

Other properties

260

20

0

3

5

31

201

Not available

0

0

0

0

0

0

0

Total Outstanding Debt as a Percent of Value

Less than 20 percent

90

5

4

0

3

5

73

20 to 29 percent

108

0

3

5

7

5

88

30 to 39 percent

129

12

3

0

9

10

95

40 to 49 percent

143

10

0

1

8

23

100

50 to 59 percent

183

15

0

8

0

13

147

60 to 69 percent

135

13

0

3

0

16

103

70 to 79 percent

114

10

3

3

0

5

93

80 to 89 percent

104

13

6

0

0

10

75

90 to 99 percent

44

0

0

0

0

2

42

100 percent or more

60

6

0

0

0

2

51

Not reported or not computed

8

0

2

1

0

0

6

Median

55

60

38

55

34

53

55

Index Used to Adjust Interest Rate on ARM

Properties with adjustable rate first mortgage

271

13

0

8

8

15

227

Treasury security

68

0

0

0

0

0

68

Average cost of funds in bank district

25

0

0

0

0

0

25

National average cost of funds

12

0

0

0

0

0

12

OTS contract mortgage rate

0

0

0

0

0

0

0

Other method

29

1

0

0

0

3

25

No index used

4

0

0

0

0

0

4

Not reported

132

11

0

8

8

12

93

Other properties

848

72

22

14

19

75

646

Not reported

0

0

0

0

0

0

0

Frequency With Which Rate Can Be Adjusted

Properties with adjustable rate first mortgage

271

13

0

8

8

15

227

Monthly

23

0

0

0

0

0

23

Every 3 months

6

0

0

0

0

0

6

Every 6 months

11

0

0

0

0

3

7

Yearly

82

0

0

0

0

0

82

Every 3 years

10

0

0

0

0

0

10

Every 5 years

11

0

0

0

0

0

11

Other

1

1

0

0

0

0

0

Not reported

127

11

0

8

8

12

88

Other properties

848

72

22

14

19

75

646

Not reported

0

0

0

0

0

0

0

Caps on Interest Rate Per Adjustment Period

Properties with adjustable rate first mortgage

271

13

0

8

8

15

227

Less than 1 percent

6

0

0

0

0

3

3

1 percent

2

0

0

0

0

0

2

1.1 to 1.9 percent

9

0

0

0

0

0

9

2 percent

65

0

0

0

0

0

65

2.1 to 2.9 percent

4

0

0

0

0

0

4

3 percent

5

0

0

0

0

0

5

3.1 to 3.9 percent

0

0

0

0

0

0

0

4.0 percent or more

15

1

0

0

0

0

14

No caps

43

0

0

0

0

0

43

Not reported

123

11

0

8

8

12

84

Other properties

848

72

22

14

19

75

646

Not reported

0

0

0

0

0

0

0

Caps on Interest Rate Over Life of ARM

Properties with adjustable rate first mortgage

271

13

0

8

8

15

227

Less than 1 percent

3

0

0

0

0

0

3

1 percent

0

0

0

0

0

0

0

1.1 to 1.9 percent

0

0

0

0

0

0

0

2 percent

0

0

0

0

0

0

0

2.1 to 2.9 percent

1

0

0

0

0

0

1

3 percent

1

1

0

0

0

0

0

3.1 to 3.9 percent

0

0

0

0

0

0

0

4.0 percent or more

103

0

0

0

0

3

99

No caps

39

0

0

0

0

0

39

Not reported

124

11

0

8

8

12

85

Other properties

848

72

22

14

19

75

646

Not reported

0

0

0

0

0

0

0

Interest Rate Changed Since Mortgage Made

Properties with adjustable rate first mortgage

271

13

0

8

8

15

227

Yes, rate has changed

108

1

0

0

0

3

104

No change since mortgage made

38

0

0

0

0

0

38

Not reported

124

11

0

8

8

12

85

Other properties

848

72

22

14

19

75

646

Not reported

0

0

0

0

0

0

0

Change in Monthly Interest and Principal Payments Other Than Change in Interest Rate

Monthly payments can change (other than change in interest ra

4

0

0

0

0

0

4

Payments can change monthly

0

0

0

0

0

0

0

Payments can change every three months

0

0

0

0

0

0

0

Payments can change every six months

0

0

0

0

0

0

0

Payments can change yearly

4

0

0

0

0

0

4

Payments can change every 3 years

0

0

0

0

0

0

0

Payments can change every 5 years

0

0

0

0

0

0

0

Other

0

0

0

0

0

0

0

Not reported

0

0

0

0

0

0

0

Monthly payments cannot change

986

73

22

14

19

79

780

Not reported

128

11

0

8

8

12

89

First Mortgage Allows for Negative Amortization

Monthly payments can change (other than change in interest rate)

4

0

0

0

0

0

4

Yes, unrestricted negative amortization

0

0

0

0

0

0

0

Yes, restricted negative amortization

0

0

0

0

0

0

0

No negative amortization allowed

4

0

0

0

0

0

4

Not reported

0

0

0

0

0

0

0

Monthly payments cannot change

986

73

22

14

19

79

780

Not reported

128

11

0

8

8

12

89

MORTGAGE PAYMENTS AND OTHER EXPENSES

Method of Payment of First Mortgage

Regular payments of interest and/or principal

1063

78

22

16

27

89

830

Interest and principal

1063

78

22

16

27

89

830

Fully amortized

974

73

21

13

23

81

763

Not fully amortized

89

5

2

3

4

8

67

Interest only

0

0

0

0

0

0

0

No regular payments required

16

0

0

0

0

1

14

Not reported

40

6

0

5

0

0

29

Items Included in First Mortgage Payment@1

Regular monthly payments of both interest and principal

1063

78

22

16

27

89

830

Real estate taxes

281

28

5

0

0

27

221

Property insurance

208

28

5

0

0

24

152

Mortgage insurance

32

6

0

0

0

24

3

Other

73

15

0

0

0

7

51

No items included or not reported

770

51

17

16

27

60

599

No regular payments of interest and principal

55

6

0

5

0

1

43

Monthly Interest and Principal Payments on First Mortgage Per Housing Unit

Regular monthly payments of interest and/or principal

1103

84

22

21

27

89

858

Less than $100

46

5

2

1

3

4

31

$100 to $199

237

10

11

6

6

21

183

$200 to $299

228

14

5

0

5

16

188

$300 to $399

194

12

0

3

9

21

150

$400 to $499

128

14

0

1

0

14

98

$500 to $599

77

11

0

0

0

8

57

$600 to $699

73

1

3

0

0

3

66

$700 to $799

16

4

0

0

4

0

8

$800 to $899

19

2

0

0

0

0

17

$900 to $999

1

0

0

0

0

0

1

$1,000 to $1,249

10

3

1

0

0

0

5

$1,250 to $1,499

14

0

0

2

0

0

11

$1,500 or more

20

1

0

3

1

2

12

Not reported

40

6

0

5

0

0

29

Median

310

377

185

344

298

315

308

Mean

397

432

279

748

995

353

375

No regular payments required

16

0

0

0

0

1

14

Current First Mortgage Payment Status

Regular monthly payments of principal and/or interest

1103

84

22

21

27

89

858

Up-to-date, ahead of schedule, or less than 90 days past due

483

26

5

0

0

46

406

Delinquent by 90 days or more

15

0

0

0

0

0

15

Legal proceedings have begun

8

0

0

0

0

0

8

Legal proceedings have not begun

4

0

0

0

0

0

4

Not reported

3

0

0

0

0

0

3

Not reported

604

58

17

21

27

43

437

Other properties

16

0

0

0

0

1

14

Monthly Interest and Principal Payments on Total Mortgages Per Housing Unit

Regular monthly payments of interest and/or principal

1103

84

22

21

27

89

858

Less than $100

81

11

2

6

3

4

55

$100 to $199

233

10

11

6

6

21

178

$200 to $299

215

14

5

0

5

16

174

$300 to $399

203

12

0

3

9

19

161

$400 to $499

119

14

0

1

0

16

88

$500 to $599

89

11

0

0

0

8

69

$600 to $699

77

1

3

0

0

3

70

$700 to $799

17

4

0

0

4

0

10

$800 to $899

22

0

0

0

0

0

22

$900 to $999

1

0

0

0

0

0

1

$1,000 to $1,249

12

5

1

0

0

0

5

$1,250 to $1,499

14

0

0

2

0

0

11

$1,500 or more

20

1

0

3

1

2

12

Not reported

0

0

0

0

0

0

0

Median

311

353

185

176

298

317

313

Mean

393

407

281

560

1000

355

375

No regular payments required

16

0

0

0

0

1

14

Interest and Principal Payment on First Mortgage as Percent of Rental Receipts

Acquired before 2000 and regular payments of interest and/or princi

900

62

19

16

27

72

705

Less than 20 percent

23

3

0

1

0

3

17

20 to 29 percent

57

0

6

0

3

5

43

30 to 39 percent

48

7

0

0

5

1

35

40 to 49 percent

93

8

2

3

0

4

76

50 to 59 percent

146

13

3

3

3

16

108

60 to 69 percent

157

10

0

0

0

15

131

70 to 79 percent

51

0

0

1

0

4

46

80 to 89 percent

80

3

2

3

2

9

61

90 to 99 percent

23

1

0

0

0

5

18

100 percent or more

183

17

5

5

11

10

134

Not reported or not computed

38

0

0

0

3

0

35

Median

64

61

53

79

87

64

64

Other properties

218

23

3

5

0

18

168

Interest and Principal Payment on Total Mortgages as Percent of Rental Receipts

Acquired before 2000 and regular payments of interest and/or principal